The automotive brake system market is estimated to grow from USD 23.5 billion in 2023 to USD 30.1 billion by 2028 at a CAGR of 5.1% during the forecast period. The demand for automotive brake systems is growing because governments worldwide are mandating the installation of vehicle safety features such as ABS, ESC, TCS, and EBD. This has strongly driven the electronic brake system market. The growing popularity of high-end and luxury cars would further fuel this demand.
Countries like India, China, Brazil, Mexico, and Argentina focus on enhanced automotive safety standards. However, the high maintenance and repair costs can hinder market growth, especially in developing countries.
“Agricultural tractors will dominate the off-highway brake system market in 2023.”
Agricultural tractors hold the largest market for brakes during the forecast period. Agricultural tractors are widely used in wet and muddy farmlands, and hence, drum brakes are unsuitable for achieving the desired performance as they get heated quickly and experience friction loss. Due to their robustness and effectiveness in handling heavy-duty applications, hydraulic wet brakes are predominantly preferred in agriculture tractors. These brakes ensure reliable stopping power and durability, essential for challenging terrains and rigorous usage. They are also preferred for farming due to low maintenance requirements and no major price difference compared to dry disc brake systems. Presently, a high installation rate of hydraulic wet brakes (more than 80%) exists in agricultural tractors, mostly equipped on the rear axle. According to insights from industry experts, drum brakes find application in less than 30 horsepower tractors, mainly in emerging economies of the Asia Pacific region. Initially, a hydraulic single-line brake system was installed in tractors. However, the new tractor models are equipped with dual-line braking systems, considered a suitable option for running at speeds of 40 km/h and above. The increasing levels of farm mechanization and anticipated advancements in braking technology will subsequently spur the growth of the agricultural tractor brake system market.
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“The Pneumatic System market is analyzed to grow at the fastest growing brake actuation type.”
The pneumatic brake system is popular in the heavy-duty trucks and bus segments as it offers superior performance, safety, efficiency, and strict regulation compliance, making it an ideal choice for heavy-duty applications. As global heavy vehicle manufacturers and braking companies strongly emphasize safety and performance, they embrace air brake technology, ensuring their trucks meet the demanding requirements of various industries and sectors, including construction, logistics, and transportation. The US has mandated pneumatic brake systems for heavy truck applications for stopping distance since August 2013. For these heavy truck tractors, the amended standard requires those vehicles to stop at not more than 250 feet when loaded to their gross vehicle weight rating (GVWR) and tested at 60 miles per hour (mph). Further, these regulations demand brake systems compatible with ABS and ESC, as manufacturers must meet the regulatory standards. With ongoing technological progress, there is a growing demand for brake systems that integrate ABS and ESC as vehicle manufacturers strive to incorporate the latest safety features. Some OEMs, such as Daimler AG, Volvo, and PACCAR, offer anti-lock braking systems with air disc brakes in their commercial truck models, such as Freightliner Cascadia, Volvo VNL, and Kenworth T680. Thus, the integration of ABS and ESC technologies in the brake systems of heavy commercial vehicles will bring a positive growth trajectory to allow brake manufacturers to increase their business venture in pneumatic brake systems.
“North America holds the largest market share in the ATV brake system market during the forecast period.”
ATVs are used in multiple sports, agriculture, military & defense, and construction applications. Hydraulic disc brake systems are primarily fitted in ATVs due to their effectiveness in providing reliable stopping power across diverse terrains. Hydraulic disc brakes excel in off-road conditions, offering precise control and responsiveness. Other benefits include improved heat dissipation, reduced fade during prolonged use, and the ability to handle the varying demands of different terrains. Major ATV manufacturers such as Polaris, Honda, and Textron offer models loaded with hydraulic disc brakes to optimize performance. Owing to their advantages and ongoing developments to diversify the usage of ATVs, the demand for hydraulic disc brake systems is expected to notice a positive growth trend in the upcoming years
North America has the largest share of the ATV market owing to increasing recreational activities, government support for off-road racing such as desert racing, and dirt racing, and growing demand for ATVs in military and farm applications. Thus, with growing sales of ATVs in North America for a variety of applications, the demand for brake systems for ATVs in North America will increase.
The automotive brake system market is dominated by globally established players such as Robert Bosch GmbH (Germany), ZF Friedrichshafen AG (Germany), Continental AG (Germany), AISIN Seiki Co, Ltd. (Japan), Knorr-Bremse AG (Germany), and Brembo S.p.A (Italy), ADVICS Co., Ltd. (Japan).
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